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2019 (11) TMI 215 - HC - Income TaxReopening of assessment u/s 147 - HELD THAT:- Attention was invited to the letter dated 12.2.2015 of the Chartered Accountants of the petitioner addressed to the Assessing Officer to point out that representatives of Dharam Impex had duly attended the office of the Assessing Officer in compliance of his directives as per their intimation to the petitioner. As submitted that therefore, in connection with the transaction in question, the Assessing Officer had summoned the party and had duly verified the same and thereafter, had passed the assessment order. As submitted that therefore, it is evident that the Assessing Officer seeks to reopen the assessment on a mere change of opinion. As regards the second ground on which the assessment is sought to be reopened viz. that the petitioner had made a bogus claim of exemption under section 10AA of the Act, it was submitted that this issue was also gone into threadbare at the time of scrutiny assessment. It was submitted that even if such purchase is disallowed, the exempted profit will go up and hence, there is no escapement of income and hence, the formation of belief that the income chargeable to tax has escaped assessment on this ground, is without any basis. Having regard to the submissions advanced by the learned advocate for the petitioner, issue notice, returnable on 10.12.2019. By way of adinterim relief, respondent is restrained from proceeding further pursuant to the impugned notice dated 31.3.2019 issued under section 148 of the Act for Assessment Year 2012-13.
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